ChainCatcher news, according to Bloomberg, U.S. Attorney for the Southern District of New York Damian Williams revealed that he plans to resign before Donald Trump's inauguration in January next year, marking the end of his term actively prosecuting Wall Street crimes.

Previously, Trump announced last week that he would appoint Jay Clayton to replace Williams, who served as the Chairman of the U.S. Securities and Exchange Commission until 2020. After Trump took office, Williams and many other U.S. attorneys appointed by President Biden across the country will almost certainly be replaced. Most other U.S. attorneys will remain in office until they are formally asked to resign.